KARACHI: Minister of State for Blockchain and Crypto, Bilal Bin Saqib, announced that the State Bank has lifted the ban on crypto banking, which had been in place for the past eight years.
In his statement, Bilal Bin Saqib said that Pakistani banks are now permitted to open accounts for licensed crypto companies.
He clarified that previously, crypto firms had no connection with the banking sector. Banks themselves cannot engage in crypto business, nor can they buy or hold cryptocurrencies using their or their customers’ funds.
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